Aviation honcho's speak out on the inevitable crisis

New Delhi: Aviation minister Praful Patel, the King of Good times, Vijay Mallya and Jet honcho Naresh Goyal will reveal future plans for the Indian skies. The last time the powerful trio was seen together was a bittersweet moment for the industry.
A period of high drama that unfolded in front the country and the key players of the turbulent aviation sector come together on The Hindustan Times CNN-IBN leadership Summit 2008.
"We have to cut costs, we've laid off staff, they've laid off staff, we'll do whatever it takes" says Vijay Mallya.
"I do not think that as the minister of civil aviation, I can take a decision and give any directive as to HR issues," says Civil Aviation Minister Praful Patel.
“I being the dad of the company was deeply disturbed of knowing of it and decided to step in," says Naresh Goyal.
There has been a very high taxation regime in our country both at the center level and state level which has resulted in a severe crisis," added Praful Patel.
Finally, the govt decided to scrap customs duties on jet fuel and oil companies agreed to review prices every fortnight. Measures which many say are little late in coming. Jet itself is staring at losses of over rupees 380 crore.
The Indian airline industry is set to lose over 5000 crores this financial year. Making it the second biggest loss making country next, only to the US. Therefore, the mergers and other tactics that followed was inevitable.
07/11/08 CNN-IBN

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Categories: Indian Aviation- In General Nov 2008